Balance sheet data for Hanes Company on December 31, the end of the fiscal year, are shown below. 20Υ2 20Y1 Current assets 321,300 206,700 Property, plant, and equipment 468,180 406,510 Intangible assets 128,520 75,790 Current liabilities 165,240 82,680 Long-term liabilities 403,920 330,720 Common stock 73,440 82,680 Retained earnings 275,400 192,920 Prepare a comparative balance sheet for 20Y2 and 20Y1, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percer decimal place. Hanes Company Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 Amount 20Y2 Percent 20Y1 Amount 20Y1 Percent Assets Current assets $321,300 % $206,700 Property, plant, and equipment 468,180 406,510 Intangible assets 128,520 75,790 Total assets $918,000 $689,000 % Liabilities Current liabilities $165,240 % $82,680 Long-term liabilities 403,920 % 330,720 Stockholders' equity Common stock 73,440 % 82,680 Retained earnings 275,400 192,920 Total liabilities and stockholders' equity $918,000 $689,000 %

Balance sheet data for Hanes Company on December 31, the end of the fiscal year, are shown below. 20Υ2 20Y1 Current assets 321,300 206,700 Property, plant, and equipment 468,180 406,510 Intangible assets 128,520 75,790 Current liabilities 165,240 82,680 Long-term liabilities 403,920 330,720 Common stock 73,440 82,680 Retained earnings 275,400 192,920 Prepare a comparative balance sheet for 20Y2 and 20Y1, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percer decimal place. Hanes Company Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 Amount 20Y2 Percent 20Y1 Amount 20Y1 Percent Assets Current assets $321,300 % $206,700 Property, plant, and equipment 468,180 406,510 Intangible assets 128,520 75,790 Total assets $918,000 $689,000 % Liabilities Current liabilities $165,240 % $82,680 Long-term liabilities 403,920 % 330,720 Stockholders' equity Common stock 73,440 % 82,680 Retained earnings 275,400 192,920 Total liabilities and stockholders' equity $918,000 $689,000 %

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 103.1C: Leverage Cook Corporation issued financial statements at December 31, 2019, that include the...

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